Georgian College welcomes the changes to student financial aid contained in the Ontario budget released today. Important changes to funding for applied research are also being promised to Georgian and other Ontario colleges.
The transformation of the Ontario Student Assistance Program (OSAP) and other student aid programs into the new Ontario Student Grant, announced by Finance Minister Charles Sousa, will help make postsecondary education more affordable for many local residents. Under the proposed changes, many Ontario postsecondary students will be able to graduate with little or no debt. The new program starts in the 2017/18 academic year.
While the cost of attending college or university is foremost in the minds of most Ontario students, the situation is particularly critical in the geographic area served by Georgian College. Georgian has the fourthlargest number of students making use of OSAP among all 24 public Ontario colleges.
"The student financial aid changes announced in today's budget will definitely help put education within reach of even more local residents," said Georgian College President and CEO MaryLynn West-Moynes.
"Affordability is a key consideration for so many students. These new initiatives will allow more people from a wide range of backgrounds to attend Georgian and gain an education that can lead to beneficial opportunities for their lives and careers."
Georgian already offers an extensive range of financial supports to help students afford their postsecondary education. This includes more than 850 awards worth over $720,000 annually as well as $2 million in bursaries.
Georgian is also pleased by Sousa's announcement of a three-year, $20-million fund that will connect colleges and private sector employers on applied innovation projects.
Earlier this month, Georgian and other Ontario colleges called on the province to make upfront investments into market-driven research to promote industry clusters throughout the province.
"Colleges play a central role in real-world research that helps businesses become more innovative," said West-Moynes.
Georgian plays an increasingly critical role in encouraging small businesses to innovate. Each year the college works with numerous local companies to pursue applied research activities.
Through its Centre for Applied Research and Innovation, Georgian connects industry and community partners with faculty and student researchers to help clear business and technology hurdles. This is accomplished through product design, prototyping, market research, analysis, testing and developing e-business solutions.
source: media release, Georgian College
